LONDON (Thomson Financial) - ADDleisure Plc. said it bought leisure
management software provider ClubRunner (Europe) Ltd. through its 50.2
percent-owned subsidiary Digital Plantation Ltd. for a cash payment of up to
1.416 million pounds and the issue of 102 Digital shares representing 24.9
percent stake in Digital's enlarged issued share capital.
The cash amount includes a fixed component of 500,000 pounds, with further
payments of up to 916,000 pounds in cash which is subject to certain performance
criteria.
ClubRunner had an unaudited turnover of 1.39 million pounds and a pretax
loss of 3,000 pounds for the year ended April 30, 2008. Its offering complements
Digital's range of proprietary intelligent booking software that specialises in
the day and destination Spa markets, the group added.
Digital Plantation will continue to be consolidated in the ADDleisure
accounts, the group said.
TFN.newsdesk@thomson.com
npr/slm
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